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Tuesday, November 11, 2014

Market Summary -- 11st Nov 14

FTSE STI closed 3,292.15, down 8.85 points or -0.27% with a total volume of 1.15b and a total value of S$989M. Total number of advance vs decline was 150 vs 242. Of the 30 component index stocks, 12 closed positive, 2 unchanged and 16 in the red. The top 5 gainer component stocks were :-

US markets closed positive yesterday but Asian bourses were mixed for the day. Nikkei +2.05%, SSE -0.12% and HSI +0.27%. STI opened positive but closed -0.27% in average volume but thinner value than yesterday. 12 of the 30 index stocks posted gain.

With positive corporate earning, US markets continued the advance with DJ and S&P500 setting another record closing. Asian bourses were mixed due to profit taking. With corporate earning coming to a close and not much of economic data, global markets should be going into consolidation soon.

STI pull back after past days of advance, closing below the 3,300 level, a temporary resistance for the moment. What STI needs now is consolidation, further weakness for the next couple of days will be something expected for the time being.